What is a Partner?

A partner is a person (natural or legal) who at a certain point in time has acquired certain obligations and rights of a company or organization.

The partners have a common purpose which, normally, is to make the organization or society meet its objectives. When the partners join in a company, the rights and obligations they have in it are shared among them, since they are the ones who have marked them.

What types of partners are there?

We highlight two types of main partners:

  • Partners with limited liability. They are partners who are responsible for the capital they have contributed. If there is bankruptcy, the partners will not be involved in contributing any capital except that which they contributed at the time to the society to join as partners.
  • Members with unlimited liability. On the other hand, these types of partners do have to take charge of the company's debts, if there are any, responding with their own assets (both present and future).

Partner characteristics

Among the most outstanding characteristics, we find:

  • The partners join together to achieve common objectives (those of the company).
  • The partners create a partnership to achieve a common goal.
  • In addition, they have the right to be able to benefit from the profits of the company.
  • The contribution of the partners to the company can be monetary, non-monetary, work, knowledge, etc.
  • In return, it receives a series of rights and duties that are defined by the partners themselves (within legal limits).
  • Depending on the contribution of the partners (of their proportion), they will receive one share or participation or another. Not all contribute the same.
  • The partners may or may not have the right to vote in the management decisions of the company. This depends on the number of proportional shares you have compared to the total of the company.

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